For instance, optionality reduction in procurement contracts that accept excessive risk cost, or uncalculated and possibly dangerous risk costs inherent in the basic supply chain design of a given company, such as the mandate of a low-cost model with no ready replacement in the case of a serious escalation in its risk profile. Many leading companies are already moving in this direction, adding finance PhD's and actuaries to procurement and supply chain teams. MORE

During catastrophes like the tsunami that devastated Japan and the floods in Thailand, chiefprocurementofficers were in constant communication on the day of the crisis but went silent in the days and weeks that followed as they focused on serving the interests of their own stakeholders and scrambled to move more of their products and restore their services. MORE

For instance, optionality reduction in procurement contracts that accept excessive risk cost, or uncalculated and possibly dangerous risk costs inherent in the basic supply chain design of a given company, such as the mandate of a low-cost model with no ready replacement in the case of a serious escalation in its risk profile. Many leading companies are already moving in this direction, adding finance PhD's and actuaries to procurement and supply chain teams.

During catastrophes like the tsunami that devastated Japan and the floods in Thailand, chiefprocurementofficers were in constant communication on the day of the crisis but went silent in the days and weeks that followed as they focused on serving the interests of their own stakeholders and scrambled to move more of their products and restore their services.